BREAKING NEWS: THE VALENS COMPANY REPORTS RECORD Q4 – RICH TV LIVE – FEBRUARY 24, 2020 – Valens GroWorks Corp. (TSXV:VLNS.V – News) (OTCQX:VLNCF – News) (the “Company“, “Valens” or “The Valens Company“), a global leader in the end-to-end development and manufacturing of innovative, cannabinoid-based products, is pleased to report its financial results for its fourth quarter and fiscal year ended November 30, 2019.
Is they doing this is rich here we have a rich tv live we have some breaking news from the valence company big news breaking news from the valence company big news breaking news from the balance company the balance company reports record financial performance in the fourth quarter and fiscal year ended november 30 of 2019 with adjusted q4 ebody of 17.7 million the
Balance grove works corp vl & s on the toronto stock exchange venture exchange and on the otcqx under the symbol v ln cf the company balance or the balance company a global leader in end to end development and manufacturing of innovative cannabinoid based products is pleased to report its financial results for its fourth quarter and fiscal year ended november
30th 2019 now this is one of my favorite companies in the cannabis space it’s one of my top picks for 2020 it’s one of my companies that i just thinks has so much potential it’s like a darling it’s one of my darlings okay so i’m very excited to see these numbers because these numbers are huge revenue increased a fifty eight point one million for the fiscal year
2019 for the fourth quarter of 2019 revenue increased to thirty point six million wow huge number huge number an eighty six percent increase over the third quarter and above the high end of the guidance range announced on december 16 2009 t there you go congratulations balance someone actually beat expectations imagine that somebody actually beat expectations now
Remember i interviewed these guys in january at the lift conference at which point in time i told you i was the most impressed by this company and this shows me that i was a hundred percent correct and my thinking valens is an absolute giant revenue of $1 25 cents per gram of input in the fourth quarter of 2019 compared to 61 cents per gram of input in the third
Quarter of 2019 gross profit increased a forty 1.4 million or seventy one point two percent of revenue for the fiscal year 2019 for the fourth quarter of 2019 gross profit increased to twenty two point six million wow or seventy three point eight percent of revenue compared to twelve point eight million or seventy seven point eight percent of revenue for the third
Quarter of 2019 justin i beta was twenty seven point four million for the fiscal year of 2019 for the fourth quarter of 2019 a justin bieber was 17 point seven million or fifty seven point seven percent of revenue compared to a justin ebit of nine point eight million or fifty nine point four percent of revenue in the third quarter almost doubling their ebody last
Quarter that’s right almost doubling their ebody of last quarter wow strong balance sheet with 58 point seven million in cash and short-term investments and a net working capital position of eighty eight point two million as of november thirtieth 2019 in fiscal 2019 we added significant scale to our operations and became the largest white label product development
Manufacturing and third-party extraction company in canada said taylor robson tyler robson ceo of balance our multi-year extraction contracts with industry leading players positions us as the partner of choice in the industry and drove significant revenue gross profit and just an ebow to growth congratulations congratulations bella you did it you proved it could
Be done the valence company has proven it can be done you can actually grow in the calif you can actually grow in the cannabis sector it’s true i’m gonna put these symbols here so you guys know exactly what this company is because to me this is the artist if not one of the hottest the hottest cannabis company extraction company in the entire sector and these
Numbers are a win these numbers are a beat as far as what i’ve read so far these are great numbers in the second half of 2019 we broadened our offering to include white label product development and we now produce a broad portfolio of safe consistent and innovative products to help our partners build brands and differentiate themselves in the market these white
Label products development initiatives contributed to record revenues in the fourth quarter of 2019 as new and existing customers push to roll out cannabis 2.0 oil based products into the market our margins in the fourth quarter also remains strong and we’re only slightly lower than our q3 results however we do expect this type of margin contraction to continue
In the coming quarters as we build out our infrastructure and execute under strategic shift towards becoming a next-generation product company which offers increased opportunity and greater ebody per input gram but a more conservative margin profile this strategic shift is now well underway and our white label contracts now outnumber our extraction contracts and
Include top tier names such as br nt shoppers drug mart and iconic brewing so they’re gonna break down all the key numbers right there i’m not gonna go through all of it i’m gonna do the earnings conference call so i will go through it in the earnings conference call i can try to go through quickly keep operating highlights of the fourth quarter and fiscal year
2019 sixty one thousand three hundred ninety four kilograms of dried cannabis and hemp biomass was processed in fiscal 2019 of which 24 thousand two hundred twenty six four hundred twenty six kilograms of dried cannabis and hemp biomass was processed in the fourth quarter of 2019 during the second half of 2019 ballons worked with a number of its clients to process
White label products and preparation for the launch of edibles and concentrates for cannabis 2.0 as a result revenue program of input increased to one dollar twenty five cents per gram in the fourth quarter of 2019 compared to 61 cents per gram in the third quarter of 2019 revenue program is expected to increase throughout 2020 as product development contracts
Continue to grow in number and revenue from extraction contracts contributes to a lesser proportion of total revenue subsequent to year end the company began formulating and manufacturing 19 sk use across three different product lines and expects this to grow rapidly throughout 2020 to meet demand from its customers for cannabis 2.0 products including vape pens edibles
Concentrates cannabis infused beverages topicals tinctures and capsules in the fourth quarter balance signed a multi-year white label agreement with br nt limited a leading premium cannabis ancillary company to launch a line of unique cannabis vape pens in canada under the terms of this agreement balance will provide high quality cannabis extracts billing services
And national distribution of a line of custom formulated vr nt branded vape pens in the fourth quarter balance acquired pommies cider co a leading ontario-based which company and mature microprocessing license applicant for total consideration of 7.6 million subject to achieve certain milestones the acquisition accelerates balance commercial-scale entry into the
High-growth beverage and edibles market in canada in the fourth quarter the company signed an agreement to become the first third party processor to supply medical cannabis my shoppers the online medical cannabis ecommerce site of shoppers drug mart with cannabis oil products in the fourth quarter the company signed its first beverage agreement with iconic brewing
To manufacture 2.5 million cannabis beverages over the term of the five-year agreement the company continues to be engaged in active discussions with additional partners to provide extraction services and expand our existing relationships to add further value-added product development and white label services subsequent to year end the company entered an ammendment
Manufacturing and sales license agreement with source technology corporation which grants balance an exclusive license to use the proprietary source emulsion technology to produce market package sell and distribute cannabis infused products in canada the united kingdom europe australia and mexico subsequent to year end the company also announced receipt of its first
International purchase orders of white label products to customers in australia based on the purchase orders received the initial cement shipments will consist of three skus of tinctures totaling over 3000 units and are expected to be shipped in q2 pending receipt of necessary import and export permits i think this is huge guys i think this is absolutely huge jeff
Follows president of alan says as expected our shift to smaller processing lots to facilitate a broader entry of cannabis 2.0 products by our customers resulted in stable processing volumes in the quarter and a corresponding increase in a revenue program of input the rapid growth we experienced in the fourth quarter resulted in an increase in our receivables as of
November 30 2019 we had 30 4.4 million of trade receivables standing however despite operating with an elevated working capital position for a brief period of time the company has subsequently collected or has trade payables outstanding with the same customers representing 81 percent of the total receivable balance in short we continue to enjoy a strong working
Relationship with our customers and the strength of our balance sheet continues to provide us with the flexibility to drive growth both organically and to acquisition in domestic and international markets bravo balance bravo love this report in february 20 2008 geo milestone where we announce purchase orders for our first international shipment of white label
Products to customers in australia we are now at an inflection point and expect our operations to gain momentum as we execute on existing contracts and execute new ones at this pivotal time in the markets evolution this is a breakdown of the revenue growth as you can see it’s been spectacular q1 2019 2 million q2 2019 eight point eight million to three twenty
Nineteen sixty million q4 2019 30 million gross profit in q1 of 850 1000 gross profit in q2 of five million gross profit in q3 of twelve point eight million and a gross profit in q3 q4 of twenty two point five million adjusted a beta of – two million in two 1/2 million in q2 nine point seven million in q3 and seventeen point six million in q4 net income has also
Been moving in the right direction for balance so they will have a conference called tomorrow i am going to livestream this conference call ok so stay tuned i don’t to go through all of this too much because i do want to do the conference call the balance company the balance company is a global leader in the antenna and development and manufacturing of innovative
Cannabinoid based products the company is focused on being the partner of choice for leading canadian and international cannabis brands provide by providing best-in-class proprietary service including co2 ethanol hydrocarbon solvent less and terpene extraction analytical testing formulation white label product development and manufacturing balance is the largest
Third-party extraction company in canada with an annual capacity of 425 thousand kgs of dried cannabis and hemp biomass at our purpose-built facility in kelowna british columbia which is in the process of becoming european union eu good manufacturing practices gmp complaint the balance company currently offers a wide range of product formats including tinctures
2-piece caps soft gels oral sprays and vape pens as well as beverages concentrates topicals edibles injectables natural health products and has a strong pipeline of next-generation products in development for future release guys love this news big news valence i would not be surprised to see valens explode tomorrow on this report what do you guys think do you agree
With me do you disagree with me balance company reports record financial performance in the fourth quarter and fiscal year ended november 30th 2019 with q4 adjusted a bit of 17.7 million vl ns in canada vl ncf in america thank you guys for watching if you’re not winning you’re not watching is your boy rich or mush tv live and i’m a piece stay tuned for more videos
More news as it happens as it breaks and i will try to stream this live tomorrow stay tuned i love balance one of my top picks guys i might have a bible soon maybe even tomorrow peace
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BREAKING NEWS: THE VALENS COMPANY REPORTS RECORD Q4 (VLNS) (VLNCF) By RICH TV LIVEliveBroadcastDetails{isLiveNowfalsestartTimestamp2020-02-24T234533+0000endTimestamp2020-02-25T000047+0000}